Financial Data and Key Metrics Changes - Total net sales for Q3 2025 were $13.2 million, down 5% sequentially but up 21% year-over-year from $10.9 million [17] - Adjusted EBITDA for the quarter was positive at $669,000, up from an adjusted EBITDA loss of $204,000 in the prior year period [21] - Gross margin for Q3 was 49.8%, up from 48.1% in the prior year period and up 160 basis points sequentially [20] Business Line Data and Key Metrics Changes - Food Service Technology (FST) net sales rose to $4.8 million, up 13% year-over-year, driven by hardware sales and growing recurring revenue [6][17] - Recurring FST revenue climbed to $3.3 million, generating a modest uptick in ARPU to $792 per unit from $700 in the prior year quarter [6][17] - Casino and gaming sales were $7.1 million, up 58% year-over-year but down 7% sequentially, reflecting market rebound and challenges in domestic demand [12][18] Market Data and Key Metrics Changes - The company experienced challenges in the domestic casino market, with indications of slowing demand from partners [12][18] - International markets showed strong performance, contrasting with domestic challenges [13] Company Strategy and Development Direction - The company is focused on a "land and expand" strategy, emphasizing repeatable execution and leveraging competitive advantages [5] - An acquisition of a perpetual license for the BOHA source code was completed for $2.55 million, providing operational freedom and long-term value creation [5][24] - Future projects include the potential development of an app store for BOHA terminals to enhance software revenue [11] Management's Comments on Operating Environment and Future Outlook - Management expects fourth quarter sales to be impacted by domestic market dynamics but remains optimistic about recovery in 2026 [12][31] - The company maintains full-year revenue guidance of $50 million-$53 million, reflecting continued FST expansion and casino stability [13] Other Important Information - The company has $20 million in cash on the balance sheet, providing ample working capital and flexibility [14][22] - Operating expenses for Q3 increased by 8% year-over-year to $6.5 million, with G&A expenses rising due to higher incentive and share-based compensation [21] Q&A Session Summary Question: Update on casino and gaming initiatives and competitive landscape - Management has adjusted the sales compensation plan to incentivize new customer acquisition and competitive wins, focusing on maintaining market share against a major competitor [27][29] Question: Magnitude of fourth quarter impact on casino and gaming - Management noted that demand has weakened and expects the fourth quarter to be weaker than the third quarter, but anticipates recovery in 2026 [30][31] Question: Regulatory developments in non-charitable gaming markets - Management highlighted opportunities for state governments to generate revenue through gaming, suggesting potential for expansion as states follow suit [32][34] Question: New logo acquisition in FST and pipeline development - Management acknowledged that while new logo acquisition was below expectations, the pipeline remains strong, and the focus is on improving metrics throughout the sales process [35][36]